The Actuarial Foundation of Canada (AFC) is a registered charity founded in 2003 to support youth financial literacy, education, and careers in actuarial and mathematical sciences. Most of the initiatives supported by the AFC are targeted towards financially or societally challenged youth.
Given that the AFC is run entirely by volunteers and gets administrative support from the Canadian Institute of Actuaries, virtually all personal contributions can be devoted to the worthy programs it supports.
Many in our society have a low level of financial literacy, which can lead to poor financial decisions and a lack of confidence in making those decisions. Given that society is asking individuals to be more responsible for the financial aspects of their futures, it is imperative that we raise the level of financial literacy in Canada through targeted educational initiatives.
Many programs supported by the AFC are run through partnerships with selected organizations which are mainly registered charities. Groups the AFC has contributed to in 2022 include:
- JA Canada
- Over 80 actuaries volunteer to help teach JA classes. If you are not able to volunteer, please consider donating to the AFC, as that funding will allow JA to pursue its mission.
- Canadian Mathematical Society
- Girls to the Power of Math
- Pacific Institute for the Mathematical Sciences
- The Verna J. Kirkness Foundation
- Toronto Foundation for Student Success (TFSS) beyond 3:30
- Big Brothers and Big Sisters of Guelph – Bank Buddies
- Science and Mathematics in Action (Laval University)
- Girl Guides of Canada for scholarships
- Youth Sciences Canada
- Shad Canada
- YMCA of Northern Alberta
- Leacock Foundation
The AFC also administers the Hugh White Fund, which provides two annual scholarships to high school students entering an actuarial science or mathematics program at a Canadian university.
Important recent development
In 2021, the AFC created the Equality of Opportunity Fund. Its objectives are to finance scholarships for BIPOC students and to support various diversity, equity, and inclusion (DEI) programs. Such DEI programs are in accordance with the AFC’s mission and directed towards youth who face societal obstacles to success due to their gender, race/ethnicity, financial circumstances, disability, or sexual orientation.
In 2022, the AFC awarded five new scholarships to BIPOC students in mathematics-related disciplines. These scholarships provide each student with financial support of about $16,000 over the course of their undergraduate career.
We have set a 2022 campaign goal of raising $230,000. This will enable the AFC to continue to provide grants of more than $150,000 to support numerous young Canadians as well as financing at least five new scholarships for BIPOC students through their academic programs. If we can exceed this goal, we will be able to enhance the lives of even more less fortunate Canadians.
How will a donation to the AFC benefit Canadians?
- The AFC will be able to meet the objectives of its Equality of Opportunity Fund and to partner with carefully selected charitable organizations to deliver effective educational support.
- By giving Canadians more financial tools and increasing awareness, they will be able to make appropriate decisions and be more confident in their financial decisions.
- People with a higher level of financial confidence tend to have enhanced personal well-being and can contribute more to society.
Please make a donation to a very worthy cause.
Thank you for supporting the Actuarial Foundation of Canada and helping ensure a stronger future for Canadians. When you make a donation, you will receive a tax credit for your contribution. Together, we will make a big difference in the future of many!